Pfizer Inc. (PFE: Quote) announced Friday that its former animal health business unit, now a standalone company named Zoetis, began trading on the New York Stock Exchange under the ticker symbol "ZTS."
On Thursday, Zoetis announced that it priced its initial public offering of 86.10 million shares of its Class A common stock at $26.00 per share, which was above its previously estimated $22.00 to $25.00 per share range.
Pfizer announced in 2012 that it would pursue an initial public offering (IPO) of a minority ownership stake in its animal health business unit as part of its long-term strategy to focus on the company's core biopharmaceuticals business.
Serving health needs across eight animal species, including farm animals such as cattle, pigs, poultry, sheep and fish, and companion animals such as dogs, cats and horses, Zoetis' diversified portfolio of more than 300 product lines spans five categories: vaccines, parasiticides, anti-infectives, medicated feed additives, and other pharmaceuticals for veterinarians and livestock producers.
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by RTT Staff Writer
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